Welcome to our dedicated page for Exagen SEC filings (Ticker: XGN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Exagen Inc. (Nasdaq: XGN) is a commercial-stage diagnostics company focused on autoimmune disease testing, and its SEC filings provide detailed information on this business. As a Delaware corporation with securities registered under Commission File Number 001-39049, Exagen submits periodic and current reports to the U.S. Securities and Exchange Commission that describe its financial condition, operations, and risks as a provider of autoimmune diagnostics and autoimmune testing solutions.
On this page, you can review Exagen’s SEC filings, including current reports on Form 8-K that furnish press releases about quarterly and year-to-date financial results. For example, the company has used Form 8-K to report results for periods ended June 30 and September 30, including revenue, operating loss, net loss, adjusted EBITDA, and balance sheet data such as cash and cash equivalents, borrowings, and warrant liabilities. These filings also include discussions of non-GAAP measures like adjusted EBITDA and explanations of how management uses these metrics.
Annual reports on Form 10-K and quarterly reports on Form 10-Q (when available in the broader filing set) typically contain more extensive disclosures about Exagen’s autoimmune testing business, its AVISE-branded portfolio, regulatory and reimbursement considerations, and risk factors related to its operations and market. Proxy materials can provide additional detail on governance and equity compensation.
Stock Titan’s tools surface Exagen’s filings as they are posted to EDGAR and add AI-powered summaries that explain key points in accessible language. Investors can quickly locate 10-K and 10-Q reports for a deeper view of revenue trends and operating metrics, and track Form 8-K disclosures related to financial results. Where applicable, insider transaction reports on Form 4 can also be accessed to see equity activity by Exagen’s officers and directors.
EXAGEN INC. director Chas McKhann has filed an initial ownership report on Form 3. The filing shows he holds 7,500 Restricted Stock Units, reported as directly owned. The entry is classified as a holding, with no buy or sell transactions reported in this filing.
Exagen Inc. Chief Financial Officer Jeffrey G. Black reported several equity-based compensation awards and a plan purchase. He received a stock option for 50,000 shares of common stock at $3.16 per share, expiring in 2036 and vesting over time, with potential full vesting upon certain change-in-control terminations.
He was also granted 75,000 restricted stock units, each representing one share of common stock, which vest in four equal annual installments starting on February 21, 2026, subject to continued service and similar change-in-control provisions. In addition, he acquired 1,511 shares of common stock at $3.077 per share through Exagen’s Employee Stock Purchase Plan. Following these grants and the ESPP purchase, he directly held 343,953 shares of common stock.
ABALLI JOHN reported acquisition or exercise transactions in this Form 4 filing.
EXAGEN INC. President and CEO John Aballi reported new equity compensation awards. He received stock options for 100,000 shares at $3.1600 per share, expiring on March 11, 2036, and a grant of 150,000 shares of common stock at no cost.
The 150,000-share award consists of restricted stock units that vest 25% on each of the first four anniversaries of February 21, 2026, with potential full vesting upon certain change-in-control terminations. The options vest 25% on February 21, 2027, then 1/48 of the total each month, with similar change-in-control protection.
After these awards, Aballi directly holds 839,834 shares of common stock and 175,000 stock options, and there are an additional 40,401 shares held indirectly by his spouse.
Exagen Inc. reports a record 2025 revenue of $66.6 million, up about 19.7% from 2024, driven by higher testing volume and better pricing. The company’s flagship AVISE® CTD test generated 91% of revenue, underscoring its central role in the business.
Since launching an operational turnaround in 2022 under CEO John Aballi, Exagen has grown annual revenue by over 45%, expanded gross margin by more than 1,100 basis points, reduced operating expenses by over 20% and cut net loss by nearly 60%. AVISE CTD’s trailing twelve‑month average selling price reached $441 in 2025, about $30 higher than 2024, supported by payer engagement and new biomarkers.
The company focuses on autoimmune diagnostics for diseases such as lupus and rheumatoid arthritis, backed by proprietary technologies like its AVISE Lupus platform and T‑cell biomarkers. Management highlights pipeline programs in lupus nephritis, SLE and RA disease activity and states a belief that the business is positioned for continued revenue growth and positive Adjusted EBITDA over the next 12–18 months.
Exagen Inc. reported strong growth but ongoing losses for the quarter and year ended December 31, 2025. Full-year revenue reached $66.6 million, up 20% from 2024, with AVISE CTD test volume growing over 11% and average selling price rising to $441 per test.
Full-year gross margin improved to 58.3%, but the company posted a net loss of $19.9 million (or $0.93 per share), wider than 2024’s loss. Adjusted EBITDA was a loss of $9.8 million, slightly better than the prior year. Exagen ended 2025 with $32.2 million in cash and cash equivalents.
Management highlighted new biomarkers, sales-force expansion, and leadership additions, and noted a strengthened balance sheet following a $20 million stock offering and a $25 million credit facility. For 2026, Exagen expects revenue between $70 million and $73 million, signaling continued topline growth despite current unprofitability.
Exagen Inc. President and CEO John Aballi reported both a sale and a purchase of company stock. He sold 15,698 shares of common stock at an average price of $3.62 per share, with the sale carried out at the issuer’s direction solely to cover tax withholding on vested restricted stock units, not as a discretionary trade. He also acquired 2,535 shares of common stock at $3.077 per share through the company’s Employee Stock Purchase Plan, a plan-based share purchase. After these transactions, he directly held 689,834 common shares, and an additional 40,401 shares were held indirectly by his spouse.
EXAGEN INC. reported an insider transaction by President and CEO John Aballi involving a mandatory share sale to cover taxes. On this Form 4, Aballi sold 11,430 shares of common stock at $3.61 per share, with the sale directed by the company solely to satisfy tax withholding obligations tied to vesting and settlement of restricted stock units. The filing states this was not a discretionary trade by Aballi. Following the transaction, he directly held 702,997 common shares, and there is an additional indirect holding of 40,401 shares reported as owned by his spouse.
EXAGEN INC. Chief Financial Officer Jeffrey G. Black reported an open-market sale of 1,584 shares of common stock at a price of $3.61 per share. After this transaction, he directly owned 267,442 shares of the company’s stock.
According to the footnote, the sale was carried out at the direction of the company solely to cover tax withholding obligations arising from the vesting and settlement of Restricted Stock Units. It is described as a mandated transaction rather than a discretionary sale by the executive.
Exagen Inc. investor RTW Investments, LP and Managing Partner Roderick Wong reported a 4.99% beneficial stake in the company’s common stock. They disclosed beneficial ownership of 1,148,768 shares, including warrants to purchase 358,306 shares, calculated against 22,663,099 shares outstanding as of October 31, 2025.
The warrants are subject to a 4.99% beneficial ownership limitation, preventing exercises that would push their stake above that level. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Exagen. Dividends and sale proceeds accrue to the RTW Funds advised by RTW Investments.
Exagen Inc. received an updated ownership filing from investment entities NMSIC Co-Investment Fund, L.P. and its general partner, Sun Mountain Capital Partners, L.L.C. The filing reports beneficial ownership of 1,368,958 shares of Exagen common stock, representing 6.04% of the outstanding shares, based on 22,663,099 shares outstanding as of October 31, 2025. The entities state that Sun Mountain, along with its controlling members Brian Birk and Sally Corning, may be deemed to share beneficial ownership of the shares held by NMSIC, while expressly disclaiming beneficial ownership beyond their direct holdings under applicable securities rules.